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While Queensland’s housing market posted another quarter of gains, recent data shows a deceleration in Brisbane, even as regional markets such as Townsville and Mackay report rising prices, reflecting shifting buyer activity and lingering supply constraints.
Figures released by the Real Estate Institute of Queensland (REIQ) for the March 2025 quarter show the statewide median house sale price rose 0.61% to $812,000.
Unit prices grew more strongly, up 3.85% to $675,000. Over five years, the median house price increased by 61.22% and units by 66.23%.
Brisbane’s housing market recorded a 3.15% decline in its local government area (LGA), pushing the median house price down to $1.193 million. Across Greater Brisbane, house prices dipped slightly by 0.36% to $910,000.
In contrast, neighbouring LGAs showed growth: Ipswich rose 1.24% to $735,000, Logan increased 0.57% to $789,450, Moreton Bay edged up 0.32% to $852,750, and Redland added 0.53% to reach $950,000.
Several regional areas saw notable increases. Townsville recorded 5.77% quarterly growth, reaching $595,500. Toowoomba rose 4.35% to $683,500, Mackay gained 4.17% to $625,000, and Bundaberg increased 3.42% to $605,000. These regions also posted strong annual gains – Townsville up 26.45%, Rockhampton up 25%, Mackay up 22.17%, and Gladstone up 23.81%.
In the unit segment, Greater Brisbane’s median rose 4.45% to $680,000, with Ipswich showing a 10.35% increase to $549,000. Redland and Sunshine Coast also posted quarterly gains of 9.55% and 6.06%, respectively. Noosa remained the state’s most expensive unit market at $1.19 million, up 14.42% over the quarter.
Days on market for houses held steady at 21, and units improved to 19. The fastest house sales were recorded in Rockhampton (11 days), Mackay and Gladstone (12 days), and Townsville (13 days). For units, Ipswich, Toowoomba, and Moreton Bay led with median sales periods of 13 to 14 days.
REIQ noted that housing supply remains below the National Housing Accord target of 49,300 new homes per year. Only 31,800 dwellings were completed over the 12 months to December 2024.
